John Wetmore explains how to build a sales business around realistic expectations. Plan for a 25% close rate and no-shows by scheduling 30 appointments to get 20 shows, which nets 1,000 sits per year and $250K revenue at $1,000 per premium. The key is emotional detachment to handle rejections without breaking stride.
Chapters
So to circle back to the original question, understanding that 25% law of large numbers thing and understanding I'm getting no-showed no matter how good I am, I may as well just start accounting for it, right? Like, why am I not planning for that? I'm frustrated because I expected to not get no-showed. So if I expect to get no-showed and I build it into my schedule, when I get them, I go, cool, all good, I expected that. So the 30 allowed me to be able to sit with 20. In my head, right? I figured at the end of the year it'd probably average out to about that. 20 a week over the course of a year is 1,000 sits. If I close 25% of them, that's $250K. That's how I came to it, at an average $1,000 premium. So I was like, if I schedule 30, I sit 20, that's a, that's $1,000 a year. If I only close 25%, I can make $250,000. That was my thought process going into 2015. Just law of large numbers, low-end averages, I can have a 25% close ratio. You know what I mean? Like, I don't have to be that great, but I can be consistent, I can be disciplined as all get out, and if I see enough people, the numbers are gonna work out. And even if I invest $50,000 into leads, like, who cares? I can net. Like more money than I've ever seen in my life. I just— now what's the flip side? I had to be willing to have 750 people tell me no and another 500 no-show me and be okay with it. Does that make sense? So I, I, I went into the year understanding that. So the emotions— I didn't— I literally didn't— I stopped caring. I mean, I didn't love them, but I didn't— I'm like, all right, whatever, just keep it moving.